The Chinese Ministry of Finance, General Customs Administration and the State Administration of Taxation have issued a joint notice of preferential tax policies for imported exhibits (see below table) during next year’s China International Import Expo (CIIE) in Shanghai.

According to a release from Ministry of Finance of China, import tariffs, import value-added tax and consumption tax will be waived on a number of imported exhibits sold during the fourth CIIE Expo.

Exhibits which are forbidden from being imported by the state will not receive tax incentives. These include liquor, tobacco, endangered animals and plants and commodities listed in the ‘Catalogue of Major Technical Equipment and Products Not Exempt from Import Duty’.

TAX INCENTIVES

Exhibitors at the Expo will receive tax incentives based on the sales volume/quota for specific product categories outlined in the below table. The sales limit for exhibitors seeking tax relief on other product categories is $20,000.

Products sold during the exhibition which exceed the specified number or limit, along with unsold items which are not returned after the event, will be taxed in accordance with relevant national regulations.

A full list of exhibitors and items to be sold during the exhibition must be submitted to Shanghai Customs by the China International Import Expo Bureau and National Exhibition and Convention Center (Shanghai).

The first CIIE Expo took place in 2018 following an announcement from Chinese President Xi Jinping at Belt and Road Forum for International Cooperation in May 2017.

 

*TRBusiness correctly reported on 16 October 2020 that preferential tax policies had been issued for imported exhibits at next year’s China International Import Expo.

This publication, however, would like to point out that the event will take place in Shanghai and is unrelated to the 2021 China International Consumer Products Expo (7 May to 10 May), which will be held in Hainan.

Preferential tax policies for the Hainan Expo, which is co-organised by the Hainan Provincial Government and Chinese Ministry of Commerce are yet to be revealed.